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Ethos Asset Management Inc., USA Announces Major Deal in Mozambique with Thai Mozambique Logistica, S.A., to Finance the Building of the Macuse Port and Rail Infrastructure in the sum of $400 Million USDETHOS ASSET MANAGEMENT INC USA, announced a new long-term financing partnership with Thai Mozambique Logistica, Maputo, with a significant capital infusion of $400 Million USD, that will continue for several years. The project and investment by Ethos will ensure the construction of a multi-purpose port designed to handle export and import of dry bulk, agricultural products, general cargo and liquid bulk, to be implemented on the Macuse River, Mozambique. The Macuse Port was conceived in 2013 as part of The Moatize Macuse Rail and Port Project (the Project) to be developed as integrated logistics corridor. The Feasibility Report was completed in 2015 and updated in 2017. For Phase 1 which involves the port, the Project will handle a multi-product cargo such as wood chips, fertilizer, grain, and fuels, and be capable of accommodating vessels of 65,000 DWT capacity. Trucking to the port will be along a strong existing road network. With later development of the rail corridor in Phase 2, the port will be expanded to handle more bulk cargo such as other minerals from Tete and the Copperbelt region as well as passengers and other general cargos. Carlos Santos, President, and CEO of Ethos stated, "This is a very special and important moment for Mozambique, the people, the community, Thai Mozambique Logistica and the Mozambique government. I feel very proud and humbled to be a partner in such a critical and significant project that will make a huge difference to the country and to the lives of the people of Mozambique. I would like to personally thank the Ethos and Thai Mozambique Logistica teams that have worked tirelessly over the last 12 months throuh many challenges to reach this monumental point. I have great admiration for TML team members for working with us closely and step by step on this amazing journey to bring about a dream for the wonderful country of Mozambique. The Project is to be one of the largest infrastructure projects in Africa with an estimated total investment cost of approximately USD 3 billion. Given the size and geographic importance of the corridor, the Project will unquestionably be a key agent of social and economic change for the benefit of affected communities and for the country as a whole. The Macuse Port will provide trade access to and from land-locked neighbouring countries of Zambia, Zimbabwe and Malawi. This is a great day for Mozambique, Thai Mozambique Logistica and Ethos." Thai Mozambique Logistica Executive Director, Mr. Virat Kongmaneerat stated that all shareholders of TML which include ITD, CFM, and Codiza are pleased to have Ethos Asset Management as a long-term partner in the Project. Funding from Ethos is a vote of confidence not only in the viability of the Project but also in the investment climate in Mozambique for foreign investors. We look forward to working with Ethos to implement Phase 1 of the Project and Phase 2 to come. Mr. Virat confirmed that the development of the Project can continue to move forward with the resettlement and construction of the port. Ethos understands the important contribution the Project will have on TML and the country, creating employment, stimulating the local economy, and putting TML and Mozambique on the regional transportation map. About Ethos Asset Management: Ethos Asset Management (Ethos) is an independent, US-based company with a global reach in resource mobilization and project financing. Providing financing to government and privately promoted projects in every continent and every sector, Ethos has developed a unique risk modulation model which allows them to provide financing in terms not available anywhere in traditional financial markets. Additionally, Ethos provides advice to structure projects and restructure debt. Ethos supports and develops their clients to navigate changing market environments to achieve their long-term goals with confidence.
For more information about Ethos, please visit:
About Thai Mozambique Logistica: Thai Mozambique Logistica (TML) is a concessionaire of two 30-year concession contracts for the Macuse Port Terminal and the Chitima-Macuse railway under a public private partnership program since 2013. TML is to build and operate the corridor between Chitima and a comercial port in Macuse. TML is 60% owned by ITD and 20% each by CFM and Codiza.
For more information about Thai Mozambique Logistica, please visit:
View source version on businesswire.com: https://www.businesswire.com/news/home/20211118005757/en/ |
